Flag Telecom

BANGALORE: RCL subsidiary, FLAG Telecom, is now heading to Maldives, to link the island through an undersea cable communication system for international bandwidth. It has reached an agreement with Wataniya Telecom. The landing station for FALCON cable system at Male, Maldives, is being constructed by Wataniya Telecom, which is second largest mobile operator in the island, and RCL is expecting majority of the international telecom traffic to be routed through this cable. FALCON will...

NEW DELHI: BhartiAirtel will share part of its submarine cable network with Reliance Industries' telecom arm, a rare partnership between two firms not known for their camaraderie. The country's largest telco will provide Reliance Jio Infocomm data capacity on its undersea cable that links India and Singapore, enabling the Mukesh Ambani-owned venture to connect its proposed 4G network to the Asia-Pacific region. The old rivals also held out the intriguing possibility of...

MUMBAI: FLAG Telecom, a Reliance group company, has awarded a multi-million dollar contract for construction of its FALCON submarine cable to Alcatel, a global networks and application service provider. Under the contract, Alcatel would manage all areas of the cable build, including installation, commissioning and testing, FLAG Telecom said in a release on Tuesday. The contract has been awarded on a turnkey basis and after an open tender bidding, it said. FALCON network would be built and...

MUMBAI: Shares of Anil Ambani-owned companies came back in limelight since Reliance Communications ( RCom ) signed a Rs 1,200 crore deal with MukeshAmbani-ledRIL's4G arm Reliance JioInfocomm . Following the deal, buying interest emerged across all ADAG stocks. Since the beginning of April, RCom has surged over 70 per cent, Reliance Infrastructure gained 13 per cent, Reliance Capital moved up 10.34 per cent and Reliance Power gained 17 per cent, as on April...

NEW DELHI: Reliance Communications Ltd surged over 15 per cent in afternoon trade on Monday to hit its 52-week high of Rs 99, after reports said private equity funds led by Samena Capital are in advanced talks with the company to acquire Reliance Globalcom , which owns undersea cable company Flag Telecom. At 03:00 pm, Reliance Communication was trading 14.98 per cent higher at Rs 98.75. It has hit a low of Rs 84.85 and a 52-week high of Rs...

LONDON: Anil Ambani group company FLAG Telecom on Wednesday announced the appointment of Punit Garg, who was heading Reliance Infocomm's international business, as its new president. "Punit's long stint at Reliance Infocomm and his understanding of its objective and approach will be extremely beneficial for FLAG Telecom and Reliance Infocomm," Anil Ambani said in a statement. Garg will replace Patrick Gallaghar, who will move on to become the Flag Telecom non-executive Vice-Chairman.

MUMBAI: Anil Ambani, who recently floated ADA Enterprises following the split of Reliance Group, has taken over as the Chairman of Flag Telecom, an international bandwidth subsidiary of Reliance Infocomm. The other board members of Flag include Patrick Gallagher, B D Khurana and Ed McCormack, the company said. FLAG owns and manages an extensive optical fiber network spanning four continents and connecting key business markets including Asia, Europe and West Asia.

NEW DELHI: FLAG Telecom, the undersea cable arm of Reliance Communications, has entered into an alliance with a global submarine cable operator which will enable it to enhance the reach of network to both South America and Australia. The company, however, refused to divulge the name of the operator, while confirming that the agreement was signed in London last week. The alliance will give Flag Telecom access to over 2,00,000 km of fully IP-enabled optic fibre of multiple undersea cable...

MUMBAI: The cable break jinx continues to haunt India. Close on the heels of the Mediterranean incident when two major lines snapped under the sea, Reliance group-owned FALCON cable system got cut off Dubai coast, presumably by a ship anchor. However, there was not much of an impact on India users, industry officials said. The incident took place in the early hours of Friday, 56 km off Dubai towards Oman, a statement by FALCON owner Flag Telecom of the...

MUMBAI: Flag Telecom, the undersea cable subsidiary of Reliance Communications, on Sunday said it has entered into a three-year agreement with US-based firm GlassHouse Technologies to provide fully-managed remote storage services. "The collaboration will provide storage solutions to companies which do not have the skills or the budget to build and manage storage services," a Reliance Communications official told media here. He said RCoM would offer these services...

NEW DELHI: Reliance Communications (RCOM), promoted by Ani Ambani , said on Saturday that it was no longer in talks with Bahrain Telecommunications Company (Batelco) for selling one of its subsidiaries. Instead, the company said that private equity funds led by Samena Capital were in advanced talks to acquire Reliance Globalcom, which owns undersea cable company Flag Telecom. "Samena Capital, in a proposed Consortium with certain other global PE...

NEW DELHI: Reliance Industries (RIL) has appointed Sanjay Mashruwala, a 30-year company veteran but hardly known in the telecom industry, as managing director of its fourth-generation (4G) mobility venture Reliance Jio, an executive with direct knowledge of the development said. An internal mail announcing Mashruwala's appointment was sent to employees last week, the executive said. India's most valuable private sector company has also hired Vodafone's...

Anil Ambani's Reliance Communications has approached State Bank of India to restructure short-term borrowings worth Rs. 3000 crores after the company was forced to withdraw an initial public offering (IPO) for its undersea cable unit in Singapore due to weak market conditions. Reliance Communications has sought to convert short-term borrowings with a maturity of 3-6 months into long term debt with a tenor of 3-5...

NEW DELHI: The 50-share Nifty slipped below its crucial psychological level of 5,200 while the 30-share BSE Sensex is hovering near 17,000, tracking weak Asian markets. ITC, HDFC Bank, Maruti Suzuki Ltd and ICICI Bank Ltd led the decline while Dr Reddy's Laboratories, Tata Power and Cipla were up with marginal gains. At 10:00 a.m.; the 30-share index was at 16,998.42, down 161.02 points or 0.94 per cent. It has touched a high of 17,047.73 and a low of...

MUMBAI: Shares of Reliance Communications today fell by about 4 per cent as the company put on hold the initial public offering of its undersea cable unit Flag Telecom in Singapore because of adverse market conditions. The company's shares opened weak and as the trade progressed it further lost 3.76 per cent to Rs 61.35 on the BSE. At the NSE , the stock plunged 3.84 per cent to Rs 61.30. On the volume front, 7.08 lakh shares of the company...

NEW DELHI: Oman is in an advanced stage of negotiations with Reliance Communications-owned Flag Telecom to connect the landlocked country to the latter's upcoming tera bit capacity undersea cable called FALCON. Sources said Oman government-owned OmanTel and Flag Telecom would ink the deal in a couple of days. The contract will see a bulk purchase agreement under which OmanTel would buy international bandwidth from FLAG Telecom on the FALCON cable. Oman is currently...

RCom slumps over 3% after Flag Telecom IPO put on hold MUMBAI: Shares of Reliance Communications dropped by over three per cent today after the company put on hold the initial public offering of its undersea cable unit Flag Telecom in Singapore citing unfavourable market conditions. The company's share prices slumped by as much as 2.98 per cent to settle at Rs 61.85 apiece on the BSE. In intra-day trade, the stock fell by 3.76 per cent to a low of Rs 63.75. At the...

MUMBAI: Reliance Communications (Rcom) has postponed plans for a public listing of its undersea cable unit-Flag Telecom in the wake of adverse market conditions. The company is awaiting supportive market conditions and easing of prevailing global uncertainties to proceed with the offering/listing at an appropriate time in the future, in order to unlock the full value of the Flag Telecom assets, the company said in a statement on Friday. ...